I wanted to share some perspective of new home sales and new home construction pipeline for the balance of this year, and the next couple years in the Beach Cities. Check out the short video & feel free to reach out with any questions, or any real estate needs!

“Hermosa Beach will temporarily permit residents of commercial areas to rent out their homes to vacationers on sites like Airbnb.com — even as it fights a court challenge to its outright ban on them in most neighborhoods.”

In December the Federal Reserve announced that they were raising their short term rates for the first time in 2016 by a quarter percentage point between 0.50% and 0.75%. This was only the second time in more than a decade. Although they projected rates would raise more quickly in 2017 that did not happen after their first policy meeting February 1st. The Feds reaffirmed in their meeting that they would hold firm on interest rates for now although projecting increases would come later in the year.

Please take time to review the latest housing market trends for our South Bay Cities below. Sales in Palos Verdes, Manhattan Beach and Hermosa Beach continue to rise while Redondo Beach shows a dip in sales.

CoreLogic reported in late December that home buying saw the fastest November in more than four years even though the month’s sales totaled 7.5% below 1988 month average. The surge in sales increased what buyers paid. Our relatively robust local job market created more job opportunities along with pay hikes nationwide. Fewer absentee buyers were reported. Mortgage financing was not used in 21% of the deals.

We live where people want to vacation. Hot Volleyball, cool water, a town for athletic people, young or not so young- everyone is out walking, riding or running by this is the place to BE. Be yourself, be fun, be free!

Just below LAX airport are the traditional beachside communities of El Segundo, Manhattan Beach, Hermosa Beach and Redondo Beach. The pretentiousness of nearby LA cannot be found here. Our neighborhoods retain a community-oriented atmosphere where everyone seems to get along in a friendly manner. Actually, they are technically cities in their own right, autonomous from Los Angeles proper despite merging into the massive greater-L.A. sprawl.

Hermosa Beach. The ‘beautiful’ beach as it translates from Spanish is defined by our pier and adjacent promenade, a pedestrian-only street that’s packed with bars and restaurants. When we turn right on Artesia off Pacific Coast Highway it is a thrill to see the magnificent Ocean.

The beach is known for volleyball and its surfing tradition and just hanging out — centered around the pier, but continuing for a mile or so south, and miles north. The boardwalk/bike path known as “The Strand” accomodates walkers, joggers and is packed with bikes and skateboards on weekends and is obviously less crowded during the week. But on weekends it’s certainly a great place for people-watching, drinking discreetly out of plastic cups and staring with envy at the luxurious new houses that have recently been constructed, blending a laid-back surfer community… with a coastal version of Beverly Hills.

North Hermosa Sand section is a dream lifestyle for families living with school age children in .Once residents discover this little community they would not live anywhere else. Many families that bought in the1960’s have more family that bought in 1990’s and more in 2010’s. It is very common for generations of families living in homes within blocks of each other, a mixture of family living in the family home, or purchased when something comes up near where they grew up. It’s a lot like the multi-genreational lifestyle of Hawaii but with a great city nearby.

Hermosa Valley and View schools have teachers and staff that amaze me. We love our schools. The parent and student portal keeps us aware of grades and homework. Our high school choice is Mira Costa or Redondo Union High. Parks and Recreation community center is bustling with activity for every age, with sports, theatre groups, and art classes. History is preserved right there in the Historical Society very well and worth a visit. Hermosa Valley Park has something for every age, or party, trees for climbing, picnic and grill stations, hills to run around in, Basketball area, soccer or field sports.

Our community loves the sunsets. We get excited when whales spout like shooting fire hydrants, or dolphin groups leap lazily along. Our kids go to the Green Store for a treat or Marthas’ for breakfast of lunch. They play on the swings or getting older get to walk or bike or razor or skateboard to the Pier. They play tennis, have the skateboard park or are in local plays in our Community Center on Pier. Summers are the best with surf lessons and ocean safety. We see our neighbors in beach chairs lined up along the water, surfing or out on Paddleboards. Circling the blocks with our dogs, talking to neighbors, and watching sunsets is a ritual.

Hermosa has a mixture of beach homes and mansions. We sadly miss every beach house torn down. Land is expensive in all the beach cities in varying degrees. There is some sticker shock to people who first want to move here. The South Bay homes held their value very well along the bumpy Real Estate market down and up turns.

One review about Hermosa says it has apartments. Every city has some and that is misleading to Hermosa as a whole. In our 1.5 square miles most of the apartments are along the South border of the Sand section. That is where young professionals new to the area can find a first place to lease and have their dog or cat. Then they learn the area and many move up to a purchase. Young people love moving here for the water, volleyball, bike and lifestyle.